New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
<< 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 >>
August 27, 2015
09:10 EDTThe hefty Q2 GDP growth boost to 3.7%
The hefty Q2 GDP growth boost to 3.7% from 2.3% beat estimates due to unexpected boosts for equipment spending and intellectual property, alongside an expected big construction-led hike in government spending alongside smaller boosts for nonresidential and residential construction. Analysts saw a small $3.6 B net export hike that was also expected, alongside a smaller than expected boost of $11.1 B for inventories, and a hike in Q2 consumption that fell a tad short of assumptions. Analysts'll leave our Q3 real GDP growth estimate at 3.0% until tomorrow's July income report. The Q2 GDP revisions leave a cycle-high $121.1 B inventory accumulation rate that exceeds the $116.2 B prior cycle-high in Q3 of 2010, and that sits just a tad short of the all-time high of $124.9 B in Q1 of 1998. The average real GDP growth clip for the expansion rose to 2.2% (was 2.1%) from 2.1% in Q1 but the same 2.2% in Q3 and Q4 of last year, while average nominal GDP growth for the expansion rose to 3.8% (was 3.7%) in Q2 from 3.7% in Q1 but the same 3.8% in Q4. Real and nominal GDP growth are oscillating around a "long-run" rate that is only just sustainable, despite an ongoing output-gap.
09:05 EDTKC Fed hawk George is doing the rounds
Subscribe for More Information
08:58 EDTStocks set to extend yesterday's advance
Stock futures remain sharply higher on the heels of yesterday's big advance and China's stock market rally last night. The updated estimate of GDP growth showed the economy grew 3.7% in the second quarter GDP grew 3.7%, topping expectations for annualized growth to be revised up to 3.2%. Personal consumption in the quarter rose 3.1%, matching expectations. Initial jobless claims were 271K last week, versus expectations for 274K first-time claims. Near 9 am EDT, Dow futures are about 190 points above fair value, S&P futures are 22 points above fair value and Nasdaq futures are about 50 points above fair value.
08:55 EDTFX Action: The dollar popped higher
FX Action: The dollar popped higher after the outsized upward GDP revision and the slightly lower than expected initial claims data, taking EUR-USD to lows of the week of 1.1249, and down from near 1.1290 ahead of the data. USD-JPY rallied to 120.43 from under 120.20. Equity futures have held onto their gains, while Treasury yields moved to session highs.
08:55 EDTU.S. equities are in rally mode again
Subscribe for More Information
08:52 EDTDirexionshares Financial Bull 3X Shares volatility elevated on wide movement
Subscribe for More Information
08:50 EDTThe 6k U.S. initial claims drop to 271k
Subscribe for More Information
08:45 EDTTreasury Action: yields snapped back to highs
Treasury Action: yields snapped back to highs after Q2 GDP was revised up sharply and jobless claims sank, which put the economy in a better light than recent market volatility implied. A little more hawkish tone from KC Fed's George also provided a dose of caution as well for bonds. The T-note yield probe the 2.19-2.20% area (testing Thursday closing highs), up from 2.17%, while the 2-year yield vaulted back over 0.70%, leaving the 2s-10s spread over 148 bp.
08:45 EDTU.S. initial jobless claims fell 6k to 271k
Subscribe for More Information
08:44 EDTCorporate Profits After-tax data reported
Subscribe for More Information
08:44 EDTJobless Claims data reported
Week of 8/22 Jobless Claims at 271K vs. consensus of 270K
08:40 EDTU.S. GDP was revised up to 3.7% in the second Q2 release
Subscribe for More Information
08:33 EDTDeutsche Bank Chief Chinese Economist holds an analyst/industry conference call
Subscribe for More Information
08:20 EDTFX Action: The CAD was a beneficiary
Subscribe for More Information
08:15 EDTU.S. GDP Preview
Subscribe for More Information
08:15 EDTU.S. Initial Jobless Claims Preview
U.S. Initial Jobless Claims Preview: Claims data for the week of August 22nd should reveal a 3k decline in the headline to 274k (median 275k) after an increase to 277k in the August 15th week. Claims are continuing at restrained levels in August and analysts expect the average for the month to be 274k which compares to 272k in July and 277k in June.
08:10 EDTKC Fed hawk George stood by policy normalization
KC Fed hawk George stood by policy normalization when asked if market movements might influence the Fed's decision to raise rates, while noting a rate hike could bring volatility and disinflationary pressures are likely transitory. She said on CNBC, "Policy makers are always trying to divine whether the forecast should adjust because of what they've seen. I think you have to be particularly careful when markets move, whether that is a signal of something more fundamental or whether it is a readjustment of some sort. This week's events complicate the picture but I think it's too soon to say it fundamentally changes that picture, so in my own view, the normalization process needs to begin and the economy is performing in a way that I think it's prepared to take that." from Jackson Hole.
07:56 EDTFederal Reserve Bank of Kansas City to hold a symposium
Subscribe for More Information
07:55 EDTEnergy Action: NYMEX crude rallied over 4% overnight
Energy Action: NYMEX crude rallied over 4% overnight, peaking at $40.47, and up from session lows of $38.96 in early Asia trade. The move came as China equities rallied over 5% (reportedly with intervention help from the PBoC), which took some of the risk-off sentiment out of the market, and improved the demand outlook to a degree. Follow through over the $40 level has been tentative however, and the contract is back testing the $40 mark as N.Y. trade gears up. A break under $39.75 could once again bring sellers back into the market. Meanwhile, RBOB gasoline has recovered the bulk of Wednesday's inventory inspired 10-cent sell-off to seven month lows of $1.3500/gallon, trading back to current $1.42 levels. Natural gas is steady near $2.70/M BTU.
07:45 EDTU.S. Treasury Opening Outlook (Aug 26):
U.S. Treasury Opening Outlook (Aug 26): Global stocks piggy-backed the firm close on Wall Street, further unwinding recent risk-off trade, supported by a rebound in China and hopes for further relaxed policy in Europe after weak German import prices. That's caused a mild uptick in Treasury yields as the short-end probes post-auction highs and the 10-year noses 2-3 bp higher to 2.17%. The Fed's Wyoming conference will kick off at 18:00 MT under the auspices of "Inflation Dynamics and Monetary Policy." Highlighting on Saturday will be Fed Vice Chairman Fischer, who will take part in a panel discussion on" U.S. inflation developments." As for Q2 GDP, the second release is expected to be revised up to 3.5% (median 3.3%) from 2.3% in the first release. Construction spending and inventories are expected the lead the upward revisions. Initial jobless claims for the week of August 22nd should reveal a 3k decline in the headline data to 274k (median 275k) after an increase to 277k in the August 15th week. NAR pending home sales are forecast to slip to 109.4 in July from 110.3. The $29 B 7-year auction will be the final of a rather weak series, dictated by the vagaries on stocks, China and risk perceptions.
<< 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 >>

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the theflyonthewall.com disclaimer & terms of use